environment
Who Claims capital gains on joint account?
spouse The gain actually belongs to the spouse who provided the capital to make the investment, regardless of the legal ownership of the account. You are ...
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science
What equipment do you need to start a mechanic shop?
Auto repair equipment that you will need to get your shop ready for business may include: Air compressor. Jack, jack stands, and pole jacks. Oil drain and...
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global news
What are the new tax law changes for 2021?
Some phaseout changes to note are: Earned Income Tax Credit: The maximum credit for filing jointly as a married couple and claiming three or more qualifyi...
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local updates
How do I change my direct deposit information for stimulus?
The IRS has added new features to the “Get My Payment” tool on its website to help more taxpayers receive and track their coronavirus stimulus payments. T...
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culture
What if I want to keep the house in a divorce?
When a married couple separates or divorces, both spouses usually have an equal right to stay in the family or matrimonial home. Usually, you’re not allow...
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business
Do tax transcripts show taxes paid?
Tax Account Transcript – shows basic data such as return type, marital status, adjusted gross income, taxable income and all payment types. It also shows ...
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global news
What is Chapter 7 bankruptcy in Oregon?
Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. (see Oregon Non-Dischargeab...
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science
Do I have to claim income from a roommate?
Yes, you have to report this income. If you collect rent from someone who lives in a property that you own – even if it’s just a room in your house – you’...
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environment
What is distribution code 1 on a 1099-R?
** If a loan is treated as a deemed distribution, it is reportable on Form 1099-R using the normal taxation rules of a retirement account….What do the dis...
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global news
Will the Paycheck Protection Program be forgiven?
Small-business owners who received taxpayer-subsidized Paycheck Protection Program loans of $150,000 or less during the coronavirus pandemic will be able ...
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